The market is dominated by foreign suppliers, as imports account for 57.8% of total market size in 2020. B2B drives market demand, with B2B spending representing 100% of total demand in 2020. The UK has the second largest market size for extraction of crude petroleum and natural gas in the region, with demand reaching USD41.1 billion in 2020. BP plc is the largest company in the UK, generating 4.4% of the industry’s total production value in 2020. The industry is fragmented, with the top five companies generating 14.6% of total production value in 2020. The total number of companies decreases in 2020, to 7,999 units. The costs of the industry decrease by 28.6% in 2020, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 64.1% of production value in 2020, the second highest in the region. The industry’s exports share decreases in 2020 to 50.4% of total production output. With production value of USD35.6 billion, the UK accounts for 31.3% of the Western Europe total in 2020.
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This Euromonitor industrial report provides unique information on Extraction of Crude Petroleum and Natural Gas in the UK: ISIC 11. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Extraction of Crude Petroleum and Natural Gas in the UK: ISIC 11 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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